Inheritance loans or an inheritance advance can help make ends meet for heirs while they wait for their share of an estate. Inheritance loans might be referred to as an inheritance advance, a probate advance, or a probate loan.
Probate is a long process most of the time. After the death of a loved one, their is often an immediate need for money for a variety of reasons.
The most common type of transaction is an advance on assets which you are going to inherit. The second type of inheritance loan is when inheritance is used as collateral for a loan with regular monthly payments.
You can receive a portion of your inheritance in as little as one business day following approval from Wealth Advance.
How Do I Qualify for an Inheritance Advance
Inheritance loans or an inheritance advance can help make ends meet for heirs while they wait for their share of an estate. The following documents are required to evaluate a loan application: a Valid ID, a copy of the deceased’s will or proof of a family relationship to the deceased person who died without a will, documentation of who is the estate’s executor and administrator, and a copy of the deceased’s death certificate. Inheritance advances are very similar to settlement loans.
If your right to the inheritance has been verified and confirmed, then the loan application process is faster. Estates with multiple heirs and large complicated estates can take additional time to evaluate and underwrite. However, the probate process can take years and many heirs seek inheritance loans to tide them over.
Key Features of Inheritance Loans
An inheritance cash advance can be a perfect solution for an heir waiting on the probate process. The money is repaid once the funds from the estate are disbursed form the estate to the heirs. The inheritance of the other heirs to an estate is unaffected and unencumbered when one heir takes an inheritance loan.
We also offer lump sum payments and are one of the leading structured settlement companies.
Eligibility for an Inheritance Cash Advance
Any person is qualified for an inheritance cash advance if you are entitled to a portion of an estate. And inheritance loan can range from as low as $3500 to over $500,000. If you are entitled to an inheritance of over $10,000 and the case is currently or about to enter probate, then you can apply for an inheritance loan.